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Business Descriptor

Our GCOO organisation is critical for HSBC. This team partners closely with business teams to drive simplification and deliver exceptional customer outcomes in Asia and the Middle East region which covers 26 markets, 600+ offices and branches, and more than 140,000 employees. By strengthening our control environment and enhancing risk management, we drive operational excellence and enable the bank to deliver focused and sustainable growth in this super-region.

Role Purpose

Banking business in India is governed by the Central Bank i.e. Reserve Bank of India (RBI) and all banking operations are required to be in strict adherence of prescribed regulations.

One of the key areas of focus both from an institution as well as the Regulator is in the area of Regulatory Reporting.  The regulator in India has been extremely demanding in the area of regulatory reporting both in terms of accuracy and timeliness.  In addition to the above, the regulator over the recent time has been pushing for banking institutions to ensure seamless regulatory reporting with limited manual interfaces/adjustments to ensure accuracy and reporting from source.

The current regulatory reporting environment is complex and needs an overhaul towards meeting the growing expectations of the regulator in this space.  The regulatory reporting currently is fragmented, de-centralised, having multiple touch points with no central oversight/governance thereby making it challenging to meet the expectations of the regulator. 

The Head of Non-Financial Regulatory Reporitng position will augment this for the Bank towards ensuring there is a central controlling body to ensure regulatory reporting is undertaken as per prescribed timelines.  The role holder also has an active part to play in automation and streamlining of regulatory reporting for the Bank to meet the growing demands of the regulator and also to ensure our internal standards and accuracy is maintained.  This role will also entail active working with all businesses and functions towards ensuring all units of the Bank actively play their part towards fulfilling the regulatory reporting obligations.

The incumbent will also be required to maintain and grow our relationship with the regulator with active interface and also providing timely inputs and contributing to the regulatory landscape evolution in the country through proactive engagement with the regulator in this area.

The Bank currently submits nearly 400 regulatory reportings at varied frequencies as specified by the regulator – the o request requirement and also data submissions as sought by the regulator during their annual inspection of otherwise will also be quite significant and very demanding of the job holder.

Principal Accountabilties

Impact on the Business

·       To provide direction and oversight for Regulatory Reporting and undertake accurate and timely reportings.

·       Drive strong regulatory interactions and ongoing relationship management with respective teams

·       To maintain healthy working relationship with the regulator (RBI) by representing the Bank on various regulatory matters.

·       Providing guidance to operating units within the Bank to ensure regulatory reporting obligations are met

Customers / Stakeholders

·        All Business Groups (GB, CMB, GM, PFS, PBD)

·       Treasury (TRY)

·       Finance

·       Compliance operation units

·       Products (GLCM, HSS, ISS)

Leadership & Teamwork

·       To ensure that Operation teams are familiar and updated on all regulations applicable to their respective areas.

·       To join up with global businesses and Functions to guide respective teams Regulations

·       To conduct and drive data accuracy programs to fulfill regulatory reporting obligations

Operational Effectiveness & Control

·       To ensure timely implementation of new regulatory circulars and guiding Operations team on regulatory reporting changes.

• Complex, subjective and dynamic regulatory environment which requires the job holder to possess sound and up to date knowledge on various regulations.
• Incumbent need to have skill set to interact with Senior Officials CFOs etc. from Global Banking as well as Commercial Banking and with the Regulators
• Regulator treating banks as its extended arm with higher delegations of powers and resultant responsibility.  Banks are the first line of defense in ensuring regulatory compliance with zero tolerance on non compliance by the regulator towards any reporting obligations.

·       Regulatory reportings vary depending on the nature of business and have multiple facets.  Subjective regulations complicate bank’s task of analyzing these transactions against applicable regulations.

·       Training the operating teams on regulatory diligence and replacing people centric domain knowledge with process driven checks.

·       To coordinate activities related to RBI’s annual inspection to ensure that data is submitted to the Regulator within prescribed time line and regulator’s queries are answered to latter’s satisfaction.

Minimum Graduation or as required for the role, whichever is higher

More than 10 years experience

Eligibility Criteria

India Bank / INM employees will be eligible to apply to this role after completion of 12 months in the current role/position at the time of application on level transfer and/or promotion.

Entity Employees (not from India Bank) to be guided by their internal policy on tenure completion in current role at the time of application before applying and share line manager approval once shortlisted.

INM Employees in scope of WPB Career Progression Framework not eligible to apply to roles within the purview of the Framework.

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India